CHAPTER 27

Tax Strategies for Multiple Businesses

Alert
At the time this book was printed, Congress had not extended numerous breaks for 2012 that had expired at the end of 2011. Check the online supplement in February 2013 at www.jklasser.com or www.barbaraweltman.com to see whether these breaks apply for 2012 returns.

Multiple businesses” connotes multinational corporations with intertwining ownership of many entities. But small business owners may conduct different activities through various entities. These entrepreneurs simultaneously own and usually run 2 or more businesses.

There may be sound legal, business, and tax reasons for using multiple businesses rather than funneling all activities through a single entity. In this chapter you will learn about:

  • Advantages and disadvantages of multiple entities
  • When to run multiple activities within 1 business
  • Treatment of multiple corporations
  • Tax rules for owners of multiple businesses

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